MIRA INFORM REPORT
|
Report
Date : |
08.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SUN
INFONET PRIVATE LIMITED |
|
|
|
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Registered
Office : |
12/7,
Second Floor, West Patel Nagar, New Delhi – 110 008, India. |
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Country
: |
India |
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|
|
Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
24.05.2000 |
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|
|
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Com.
Reg. No.: |
55-105846 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
DELS15376E |
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PAN
No.: [Permanent
Account No.] |
AAEC6507R |
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Legal
Form : |
Private limited liability company |
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|
|
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Line
of Business : |
Traders
and Distributors of Radio and Data Communications Equipments and Electronic
Equipments. |
RATING & COMMENTS
|
MIRA’s
Rating : |
Ba |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum
Credit Limit : |
USD 15000 |
|
|
|
|
Status
: |
Satisfactory |
|
|
|
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Payment
Behaviour : |
Usually
Correct |
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Litigation
: |
Clear |
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|
Comments
: |
Subject
is engaged in the business as Importers and distributors of Radio and
Communication equipments, imported mainly from Germany, U.S.A. and Taiwan,
having offices in the major cities in India. The
Company’s business is progressing well. Trade relations are reported as fair.
Payments are usually correct and as per commitments. The
Company can be considered normal for business dealings at usual trade terms
and conditions |
LOCATIONS
|
Registered
Office : |
12/7,
Second Floor, West Patel Nagar, New Delhi – 110 008, India. |
|
Tel.
No.: |
91-
11-25889728 |
|
Fax
No.: |
91-
11-25889252 |
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E-Mail
: |
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|
Website
: |
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|
Area : |
500 Sq.ft. |
|
Location : |
Owned –Commercial
|
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|
|
Head
Office : |
3/31, 3rd Floor, West Patel Nagar, New Delhi –
110008 |
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Tel.
No.: |
91-11-25889728/29/30/31 |
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Fax
No.: |
91-11-25889252 |
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|
|
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Overseas
Offices : |
C/o
Drumkin Business Machines Inc/. 71-27, 65th Street, No. 3C,
Glendale, New York 11385, USA |
|
Tel.
No.: |
+1 718
418 2979 |
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Fax No.: |
+1 718
418 4067 |
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E-Mail
: |
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Overseas
Offices : |
10 Kaki
Bukit Road, No. 03-04, Singapore 416175 |
|
Tel.
No.: |
8411236 |
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Fax
No.: |
8411237 |
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|
|
|
Branches
: |
189-A,
First Floor, Saheed Bhagat Sigh Co-operative Housing Society, Next to
Gurdwara Link Road, J. B. Nagar, Andheri (East), Mumbai – 440059, Maharashtra |
|
Tel.
No.: |
91-22-27544278 |
|
Mobile
No.: |
91-9820136173 |
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E-Mail
: |
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|
|
|
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Branches
: |
1 Circular
Road, United India Colony, Kodambakam, Chennai – 600024, Tamilnadu |
|
Tel.
No.: |
91-44-24881584/24839838/24812838 |
|
Fax
No.: |
91-44-24839838 |
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Mobile
No. |
91-9841060131 |
|
Contact Person : |
Mr.
Balashubramaniam |
|
|
|
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Branches
: |
Plot no
8, Golden Empire, Flat No. 6025, Mahavir Marg, C-Scheme, Jaipur, Rajasthan |
|
Tel.
No.: |
91-141-5103537 |
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Mobile
No.: |
91-9829060656 |
|
Contact Person : |
Mr. Sapan
Jain |
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|
|
|
Branches
: |
Sun Group
No. 26, First Floor , (Beside Bescom), Anjenaya Temple Street, Marappa
Garden, Benson Town, Bangalore – 560046, Karnataka |
|
Tel.
No.: |
91-80-23367854 |
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|
|
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Branches
: |
335
Bijoypur Road, 6-E, 24 Parghans (N), West Bengal – 743178, Kolkata |
|
Tel.
No.: |
91-33-25951574 |
|
Fax
No.: |
91-33-25530512 |
|
Contact Person : |
Mr. Amit
Kr. Som |
DIRECTORS
|
Name : |
Mr. Sunil Malik |
|
Designation
: |
Director |
|
Address
: |
R-801, New Rajinder Nagar, New Delhi, 110 060. |
|
Date
of Appointment : |
24/05/2000 |
|
|
|
|
Name : |
Mr.
Bhavnish Sachdeva |
|
Designation
: |
Director |
|
Address
: |
House Number - 2030, Sector – 28, Faridabad,
Haryana |
|
Date
of Appointment : |
19/07/2000 |
KEY EXECUTIVES
|
Name : |
Mr. Neeraj Chandra |
|
Designation
: |
Director (Operations) |
|
Mobile
: |
91-9811089557 |
|
Email
: |
|
|
|
|
|
Name : |
Mr. Kapil Sood |
|
Designation
: |
Manager (Finance) |
|
Mobile
: |
91-9313002417 |
|
Email
: |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mr. Sunil
Malik |
500 |
4.55 |
|
Ms. Manju
Malik |
500 |
4.55 |
|
Mr.
Krishna Malik |
10000 |
90.90 |
|
Total |
11000 |
100.00 |
|
|
|
|
BUSINESS DETAILS
|
Line
of Business : |
Traders
and Distributors of Radio and Data Communications Equipments and Electronic
Equipments. |
|
|
|
|
Imports
from : |
Taiwan, Germany, USA, Japan and other European Countries |
|
|
|
|
Terms
: |
|
|
Purchasing : |
Credit |
GENERAL INFORMATION
|
Customers
: |
Ř
Escorts
Medical Centre Ř
Batra
Hospital and Research Centre Ř
Rohtak
Medical College Ř
Khanna
Nursing Home Ř
Indraprastra
Medical Corporations Limited Ř
Kalawati
Saran Children Hospitals Ř
Sanjay
Gandhi Hospital Ř
Max
India Limited Ř
Hotel
Kanishka Ř
Hotel
Imperial Ř
Hotel
Novatel Ř
Hotel
Oberoi Ř Hotel Taj Ř Motorola |
|
|
|
|
No. of
Employees : |
45 |
|
|
|
|
Bankers
: |
·
The
Jammu and Kashmir Bank Limited ·
HDFC
Bank Limited, Delhi ·
ICICI
Bank Limited ·
Citi
Bank Limited |
|
|
|
|
Facilities : |
The subject has availed secured loans from ICICI Bank and
Citi Bank |
|
|
|
|
Banking Relations : |
Satisfactory |
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|
|
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Auditors
: |
A K. Batra and Associates Chartered
Accountants 40/2971, Beadon Pura, Karol Bagh, New Delhi – 110 005. |
|
Tel.
No.: |
91-11-25789547/25729299 |
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|
|
|
Associates
: |
Sun Medical Systems 3/31, West Patel Nagar, New Delhi – 110008 Line Of Business :
Distributors
and Authorized dealers for medical equipments of SONY Corporation, Japan,
Sole Distributorship of Codonics Inc. USA, Mitsui USA, Philips Medical
(Formerly Agilent Technologies), Medtronic USA It
supplies Medical Equipment/Solutions/Products to all major Hospitals,
Institutions, OEMs and Dealers thru its large network. Products
·
All
Medical Professional Products for the field of Ultrasound/Endoscopy/Microsurgery/Laproscopy/Color
Doppler/CT-MRI etc. ·
Dry
Imagers/Media for CT Scan, MRI and Nuclear Medicine ·
Medical
Equipment and Consumables for ICU/CCU/Post Operative/Ots/Trauma etc. ·
Medical
CDs/DVDs and Caddies ·
Stents/Balloons/Cathetors
for Angiography and Angioplasty and Shunts/Neuroendoscopes for Neurosurgery. Branches
New
Delhi, Bangalore, Chennai, Mumbai and Kolkata Overseas Office
Singapore, Hong Kong and New York ·
Sun
Broadcast Equipment Private Limited ·
Legal
Status : Private Limited Liability Company ·
Date
of Incorporation : 14th August 2002 Business Profile
The
company is a part of Sun Group of companies having their presence in Indian
Medical and Infotech Industry. It has
been authorized by Sony Corporation of Hong Kong to distribute and service
their entire range of broadcast and professional products in India. The Head
Office is at Delhi with a network of branch offices in Mumbai, Kolkata,
Chennai and Bangalore. Authorized
Dealer for SONY Broadcast Products and AMC Provider. Broadcast
Products : ·
Digital
Video Camera ·
Digital
Audio Mixer ·
DME
Switcher ·
DVCAM ·
Camera
Control Unit and Adaptor ·
Color
Video Monitor ·
Digital
Portable Mixer |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
100,000 |
Equity
Shares |
Rs.10/- each |
Rs. 1.000 Million |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
11,000 |
Equity
Shares |
Rs.10/- each |
Rs.0.110 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
1] Share Capital |
|
0.110 |
0.110 |
|
2) Share Application Money |
|
0.000 |
0.000 |
|
3] Reserves & Surplus |
|
3.440 |
2.340 |
NETWORTH
|
|
3.550 |
2.450 |
|
|
|
|
|
|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
|
1.047 |
0.000 |
|
2] Unsecured Loans |
|
6.700 |
3.450 |
TOTAL BORROWING
|
|
7.747 |
3.450 |
Deferred Tax liability
|
|
-- |
-- |
|
|
|
|
|
TOTAL
|
|
11.297 |
5.900 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
2.260 |
1.148 |
|
|
|
|
|
|
INVESTMENTS |
|
0.042 |
0.017 |
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
|
13.039 |
7.585 |
|
Sundry Debtors |
|
25.938 |
17.961 |
|
Cash & Bank Balances |
|
2.104 |
3.682 |
|
Other Current Assets |
|
0.490 |
0.883 |
|
Loans & Advances |
|
4.598 |
1.220 |
|
Total Current Assets |
|
46.169 |
31.331 |
|
Less : Current Liabilities and Provisions |
|
|
|
|
Current Liabilities |
|
36.276 |
25.993 |
Provisions
|
|
0.898 |
0.610 |
Total Current Liabilities
|
|
37.174 |
26.603 |
|
Net Current Assets |
|
8.995 |
4.728 |
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.007 |
|
|
|
|
|
TOTAL
|
|
11.297 |
5.900 |
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover [including other
income] |
|
101.069 |
85.828 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
1.979 |
1.448 |
|
Provision for Taxation |
|
-- |
-- |
|
Profit/(Loss) After Tax |
|
1.979 |
1.448 |
|
|
|
|
|
|
Total Expenditure |
|
99.090 |
84.380 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
1.96 |
1.69 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
1.96 |
1.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
4.09 |
4.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.56 |
0.59 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
12.65 |
12.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.24 |
1.17 |
LOCAL AGENCY FURTHER INFORMATION
The company
sells Voice and Data Communications equipment to various sectors of Indian
Industry such as Hotels, Hospitals, Heavy Industry, DOT, ISP Providers,
Paramilitary forces, carriers viz, cable and wireless and other agencies.
It has set
up its own communications center in New Delhi equipped with the facilities for
Repair and Maintenance.
Subject deals with the following products:
·
Motorola-
Two Way Radios
·
NETVOX
– Numeric Pager
·
Zetron-
Paging Systems
·
On
site paging systems
·
Controlware-
ISDN Backup and Access
·
ISDN
Bank-up Access System
·
ATM
Access System
·
Guest
Room Management System
·
Time
Scheduler System
·
Ultrak
·
Paging
Systems
·
ISDN
Bank-up solutions
·
Voice
Processing Systems
·
Computer
LAN Telephony with visual call and mail management
·
Telemetry
·
Radio
Data Communication, SCADA Systems and Test Equipment
·
Customer
Owned and Messaging Group
The Company is an authorized
Distributor for the following Companies
·
Motorola:
Two Way Radios, Pagers.
·
Netvox:
Numeric Pager
·
Zetron
: Pagin Systems
·
Control
ware : ISDN Backup and Access
·
FMS:Time
Scheduler System, Time Scheduler System
·
Ultrak
The company
imports radio, data Communication equipments and electronic components.
The Company
exports Radio and Data Communication Equipments
The Company
is supplying Medical Equipment/Solutions/Products to all major Hospitals,
Institutions, OEMs and Dealers through its large network.
It sells in
the domestic market.
The subject
is a part of ‘Sun Medical Systems’ which is an 18 years old company.
CMT REPORT
[Corruption, Money laundering & Terrorism]
The Public Notice information has been collected from
various sources including but not limited to: The Courts, India Prisons
Service, Interpol, etc.
1] INFORMATION ON DESIGNATED PARTY
No
records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that
subject is or was the subject of any formal or informal allegations,
prosecutions or other official proceeding for making any prohibited payments or
other improper payments to government officials for engaging in prohibited
transactions or with designated parties.
3] Asset Declaration :
No
records exist to suggest that the property or assets of the subject are derived
from criminal conduct or a prohibited transaction.
4] Record on Financial Crime :
Charges or
conviction registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with Government :
No record exists to
suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market survey
revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report
:
No press reports / filings exists on the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments
on Corporate Governance to identify management and governance. These factors
often have been predictive and in some cases have created vulnerabilities to
credit deterioration.
Our Governance Assessment focuses principally on the
interactions between a company’s management, its Board of Directors, Shareholders
and other financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local
laws, regulations or policies that prohibit, restrict or otherwise affect the
terms and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.30 |
|
UK Pound |
1 |
Rs.85.83 |
|
Euro |
1 |
Rs.57.92 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT
LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT
POINTS |
|
|
|
--BANK
CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT
POINTS |
|
|
|
--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT
ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This
score serves as a reference to assess SC’s credit risk and to set the amount of
credit to be extended. It is calculated from a composite of weighted scores
obtained from each of the major sections of this report. The assessed factors
and their relative weights (as indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working
capital. No caution needed for credit transaction. It has above average
(strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base
are regarded healthy. General unfavourable factors will not cause fatal
effect. Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent.
Repayment of interest and principal sums in default or expected to be in
default upon maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists.
Caution needed to be exercised |
Credit not recommended |